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The Future of Series I Bonds: Should Investors Buy Now?
As we approach May, experts are predicting a decrease in the annual rate for newly purchased Series I bonds. Currently, investors are earning 5.27% annual interest on new I bonds purchased before May 1st. This rate is expected to drop to around 4.27% based on inflation and other factors. However, there is still an opportunity…
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The Challenge of Reaching 2% Inflation in 2024
Federal Reserve Bank of Chicago President Austan Goolsbee recently expressed his concerns regarding the difficulty of achieving 2% inflation by 2024. Despite the Federal Reserve’s stated target, inflation remains stubbornly high. Goolsbee acknowledged that inflation has decreased from its peak during the pandemic but is still above the desired level. The consumer price index rose…
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The Financial Implications of the Growing Centenarian Population in the U.S.
In the United States, the number of centenarians is set to increase significantly in the coming decades. According to a Pew Research Center analysis of U.S. Census Bureau data, it is estimated that by 2054, there will be around 422,000 Americans aged 100 and older, which is more than four times the 101,000 recorded in…
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The Financial Aid Fiasco: College Students Struggle With FAFSA Applications
As enrollment deadlines approach, many students are still uncertain about how they will afford college next year. Problems with the new Free Application for Federal Student Aid (FAFSA) have contributed to delays in financial aid award letters and have even deterred some high school seniors and their families from applying for aid altogether. Current FAFSA…
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The Benefits of Free Admission to National Parks
Every year, the federal government offers free admission to visitors of national parks on April 20 to kick off National Park Week, which runs for nine days until April 28. This initiative aims to encourage more people to explore and appreciate the natural beauty and historical significance of these protected areas. With the National Park…
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The Ever-Changing Landscape of Series I Bonds: What Investors Need to Know
Investing in Series I bonds has long been considered a reliable option for long-term investors looking to preserve their purchasing power. However, recent predictions suggest that the annual rate for Series I bonds could drop below 5% in May, marking a significant decrease from the current rate of 5.27%. This rate adjustment comes as a…
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President Biden and Vice President Harris’ Tax Returns: Lessons for Average Americans
President Joe Biden and Vice President Kamala Harris recently released their annual tax returns, shedding light on their financial activities in 2023. The details revealed in their tax filings offer important lessons that average Americans can learn from, according to tax experts. In 2023, President Biden and first lady Jill Biden reported a joint adjusted…
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The Biden Administration’s New Student Loan Forgiveness Proposal: What You Need to Know
The Biden administration recently unveiled its draft text for a new student loan forgiveness proposal, which has the potential to alleviate the financial burdens of millions of borrowers. This proposal is set to be formally published in the Federal Register, with a 30-day comment period to follow. U.S. Secretary of Education Miguel Cardona expressed optimism…
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The Impact of Financial Aid Delays on College Admission Decisions
As National College Decision Day approaches, many high school seniors are facing a daunting challenge due to delays in receiving financial aid award letters. The Free Application for Federal Student Aid (FAFSA) process has been plagued with problems, leaving students unsure about their financial standing when it comes to choosing a college. This uncertainty is…
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The Real Cost of Retirement: Why $1.46 Million Might Not Be Enough
In recent years, the estimated amount needed for a comfortable retirement has skyrocketed to $1.46 million, up 53% from just two years ago. This sharp increase is driven by the rising cost of living, making the retirement savings goal seem daunting for many Americans. With the average retirement savings currently sitting at $88,400, it’s no…